SEC Sues Elon Musk Over Twitter Stock Buys, Escalating Long

The Securities and Exchange Commission on Tuesday sued Elon Musk over allegations he misled shareholders about his Twitter stock purchases, escalating the agency’s long …

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SEC Sues Elon Musk, Saying He Didn’t Disclose Twitter Ownership …

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10 hours ago · As a result, the SEC alleges, Musk was able to underpay “by at least $150 million” for shares he bought after he should have disclosed his ownership of more than 5% of …

apnews.com

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Elon Musk Underpaid Twitter Acquisition By $150M By Not …

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1 day ago · The SEC sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in 2022.

go.com

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Elon Musk Sued By SEC Over Late 2022 Disclosure Of Twitter Stake

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8 hours ago · The U.S. Securities and Exchange Commission sued Elon Musk on Tuesday, alleging failure to timely disclose that he bought more than 5% of Twitter’s stock in 2022 …

latimes.com

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SEC Sues Elon Musk For Failure To Disclose Growing Twitter Stake ...

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11 hours ago · Elon Musk cheated Twitter shareholders out of more than $150 million by waiting too long to disclose his growing stake in the company as he prepared a takeover bid, the US …

bloomberg.com

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SEC Lawsuit Claims Musk Gained Over $150 Million By Delaying …

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10 hours ago · The Securities and Exchange Commission has sued Elon Musk over his delayed disclosure of the Twitter stock he amassed before announcing his intention to acquire the …

engadget.com

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SEC Accuses Elon Musk Of Buying Up Twitter Stock At Deflated Price

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10 hours ago · The SEC lawsuit, filed Tuesday, says that before the Tesla CEO finalized his $44 billion deal to buy Twitter, which he renamed X, he began to buy up shares in the company. By …

huffpost.com

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Elon Musk Sued By SEC Over Delayed Disclosures Of Twitter Stock ...

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7 hours ago · SEC sues Elon Musk for failing to disclose Twitter stock purchases, alleging he underpaid by $150M. Read more here.

seekingalpha.com

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SEC Sues Elon Musk Over Late Twitter Stake Disclosure

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54 minutes ago · The SEC's lawsuit filed on Tuesday alleges that Musk—who completed his $44 billion purchase of Twitter Apr. 24, 2022—had already acquired over 5% of the company on …

pcmag.com

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Elon Musk Sued By SEC For Late Disclosure Of Twitter Stock Purchase

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10 hours ago · Once Musk did report his purchase, Twitter's stock price skyrocketed, pushing the value of Musk's shares up to $2.89 billion. Twitter's stock ended the day 27 percent higher …

mashable.com

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Elon Musk Fires Back As SEC Sues Him Over Twitter Stock Drama

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Oct 6, 2023 · Why It’s Important: Musk acquired Twitter, now rebranded as X, for $44 billion in October 2022. On April 14, 2022, Musk said he wanted to buy all the shares of Twitter that he …

nasdaq.com

FAQs about SEC Sues Elon Musk Over Twitter Stock Buys, Escalating Long Coupon?

Why is Elon Musk suing the SEC?

Elon Musk is being sued by the US Securities and Exchange Commission (SEC) for failing to immediately disclose that he’d acquired a large stake in X, formerly known as Twitter. ...

Why did Elon Musk buy Twitter shares at 'artificially low prices'?

Musk bought Twitter shares at 'artificially low prices' and saved $150 million because he reported his Twitter stake late, the SEC alleges. Billionaire tech executive Elon Musk is being sued by the Securities and Exchange Commission (SEC) for alleged security violations related to his 2022 acquisition of Twitter, which he rebranded to X. ...

Did Elon Musk fail to file a beneficial ownership report?

The report states: “Elon Musk failed to timely file with the SEC a beneficial ownership report disclosing his acquisition of more than five percent of the outstanding shares of Twitter's common stock in March 2022, in violation of the federal securities laws.” ...

Did Tesla CEO buy social media company at $150 million discount?

The delay resulted in the Tesla CEO buying a significant stake in the social media company at an artificial $150 million discount, the agency alleges, ahead of his acquisition of the platform late that year. ...

Did the world's richest man take too long to disclose shares?

In the ruling filed on Tuesday by the SEC, the financial regulator claimed the world’s richest man took too long to disclose his initial purchase of shares in violation of investment rules. According to SEC guidelines, investors who acquire at least a 5% stake in a company must publicly disclose their stake. ...

How does the SEC vote on litigation?

The five-member SEC votes on important agency actions such as lawsuits, settlements and new regulations. Authorizing a new lawsuit requires at least a majority vote of the commission. The SEC doesn’t disclose how commissioners vote on litigation. The SEC currently has three Democratic and two Republican members, but that will change by next week. ...